Good News As HELB Announces 100% Waiver Within This Timeline Check Details.
HELB has announced a one hundred per cent penalty waiver, due to economic hardship faced by those who defaulted as a result of Covid-19 pandemic.
The pandemic caused many to lose their jobs and as a result they could not afford to remit the monthly subscription.
The waiver will start from first of March until thirtieth of April this year. Ringers Charles HELB Chief Executive Officer issued a statement on the Matter on Tuesday first of March.
He said that due to the pandemic, many people are struggling with finances due to economy slowing down for the past two years. Some lost their jobs while for others the businesses they were relying on collapsed and did not have other means to repay the loans.
This, has brought a challenge in funding of students who applied for the helb loans. Furthermore, the National Treasury also is giving the kitty insufficient funds. Coupled together, the two issues have created a big challenge inadvertently.
The CEO HELB noted that repayment ability by the beneficiaries may take awhile before it can stabilise due to the prevailing circumstances.
And for the same reason, HELB, therefore, announces Penalty Waiver to all beneficiaries as a way of appreciating their commitment on repaying the loans. This will go a long way to motivate those who have not began repaying the loan to do so.